Kenya-based venture capital firm Kua Ventures is in the process of raising $1.5 million to finance a broader portfolio of small and medium enterprises (SMEs) across the country. The latest investment round has successfully secured $500,000 in commitments, highlighting growing interest from investors in Kua’s unique approach to venture capital.
Founded in 2020, Kua Ventures has quickly established itself as a significant player in Kenya’s startup ecosystem. The firm focuses on impact investing, aiming to support the growth of SMEs that contribute positively to society. In the past year, Kua announced a commitment of over $1 million to help 20 SMEs navigate the economic challenges presented by the COVID-19 pandemic and subsequent lockdowns.
The milestone of reaching $1 million in funding follows four successful funding rounds conducted over the past three years, culminating in the inclusion of over 20 promising local SMEs in its portfolio. This achievement underscores Kua Ventures’ commitment to empowering local businesses and fostering social impact.
Madalena Santos, Operations Director at Kua Ventures, emphasized the firm’s mission to drive meaningful change through entrepreneurship. “Having invested over $1 million in 20 businesses in the last three years, we recognize the potential within the Kenyan entrepreneurial ecosystem,” Santos said. “We are excited to invest an additional $2 million by 2024, which will allow entrepreneurs within our portfolio to continue creating positive impacts in their communities and beyond.”
Peter Fry, Executive Director of Kua Ventures, highlighted the effectiveness of the firm’s “3C model” — capital, coaching, and community. This innovative approach has resonated particularly well in Kenya, where many businesses are led by entrepreneurs focused on social impact. “Our 3C model has proven successful in Kenya,” Fry noted. “There are numerous growth-oriented businesses led by impact-driven entrepreneurs throughout the country. As these companies grow, they create jobs and further their missions of local outreach.”
Kua Ventures’ steadfast commitment to supporting Kenyan SMEs underscores its vital role in fostering economic growth, job creation, and poverty alleviation in the region. With ongoing fundraising efforts and a clear focus on impactful investing, Kua Ventures is well-positioned to attract additional investor interest and drive meaningful change within the Kenyan entrepreneurial landscape. As the firm advances its ambitious plans, it aims to solidify its status as a crucial contributor to sustainable business practices in Kenya, supporting a new generation of entrepreneurs dedicated to making a difference.